Failed L3 May 2021. Was postponed 2 times, restarting study plan each time, only making it about halfway though books before being deferred. Once exam confirmed finally got through Kaplan books entirely, did several Kaplan Mocks, a few actual CFAI AM’s, and about 1-2 CFAI mocks. Also many Kaplan Qbank questions, but minimal CFAI EOC or CFAI Qbank questions (regret).
2nd attempt (Now):
Finish reading Kaplan books, with 110 days to exam. Recently began MM videos @ 1.5x speed, going to watch all once. Doing Kaplan Qbank questions for next 2 weeks. Will continue MM videos and begin CFAI EOC and blue box questions in weeks. Roughly 2 months from exam will start doing exams (emphasis on AMs). Will do all CFAI mocks, MM mocks, 2-3 CFAI actual AM’s and potentially 1-2 S2000Magician grading service exams (TBD). All throughout will chip away at both CFAI and Kaplan Qbank questions, Kaplan formula sheets and a review a few of my notes along entire way.
Between today and exam I should be able to study just over 500hrs, as a result of 3.25hrs on weekdays, 5.5 hours on weekend days, and 8+ hrs on the days 2 weeks prior to my exam.
Is this plan appropriate? Thoughts? Advice?
Personally, also as a retaker (and super deferrer), I’d try to focus more into the blue boxes and in text stuff as dry as it may seem. Im a huge MM fan, have for all levels and loved kaplans condensed notes and mocks a lot. The test is based on only the text, and mock writers and note condensers (no matter the provider) will never succinctly summarize the content of this level, nor write good questions (heck, the boston society mocks arent even good, not to mention literal typos lol). Knowledge of the blue boxes, in text stuff and some eoc are pretty huge imo.
The exam as you may have no
@PlzPassMe ,I still do not see topicwise Qbank from CFAI in your list
-The paper setters ONLY look at CFAI material.
Blue boxes,EOC,Qbank, and Mocks.
As last three years essay papers are no longer available,look for older ones,as you would be able to figure out what type of answers CFAI expects
But the length of the answers can be misleading,and CFAI itself provides guidance that bullet points are ok.Make sure you use key words.And doubly sure you choose the right option in a justification question,else they won’t look at your justification.
-At L3,the EOC in Scheser can’t match the requirement in MCQ And it’s useless in Essay.
However their full syllabus mocks are helpful in MCQ
- Aim higher in MCQ,than at other levels - the syllabus is a tad smaller than L2,and competing candidates are those who have already passed L2
-Exam week:allot 50% time to tests( don’t ignore MCQ mocks here as well) and 50% to review concepts that ordinarily cause confusion,and that you figure out through your practice journey.
Broad points will be there in Secret Sauce of Schweser,( use it,if it still there)it’s the finer or trickier ones,that you need to jot down
See if that angel Adam Runk’s notes are still there on AF!
The main good resource that Kaplan has for L3 is the file showing which prior AM questions are relevant. Make mocks out of these. I literally opened a word file and started typing to simulate the exam experience (timed of course).
MM is my favorite but make you don’t just watch the videos. Do the problems along and make sure you understand how he arrives to the answer. BB’s, white text examples, and EOC’s are a must.
Apologies for the ignorance, but I was wondering what “MM” stands for. I am a first time taker for L3 but have taken a sabbatical since passing L2 of around a decade. Since I am doing portfolio management in my new career, I decided to pursue L3. This long break between L2 and L3 made me lose touch on the appropriate approach to study and therefore do not know a few of the new terminologies and approaches. Would love to hear from you on what works.
Thank you in advance.
My position is identical to yours! Did register for L3 for 2022 after a hiatus of close to 9 years but couldn’t prepare properly mainly due to work-related constraints. Eventually deferred to 2023
Have just cracked my study material and mulling if videos are the way to go? Are you sticking only with study material or supplementing with videos/other aids?
I wanted to get up to speed on the new study materials when I am able to actually register for the Feb 2024 exam. In the meantime, I am going through YouTube videos and reading up on decade-old Schweser L3 study notes (pre-Kaplan) assuming that the fundamental core topics would remain the same. Then, upon registering, I plan to thoroughly go through the official CFA books and EOC exams.
I was just surprised that upon reading threads on this forum, there seems to be an abundance of different study aids that are now available. Going through different study aids and videos would take a tremendous amount of time, which I do not really have right now. Unless I am convinced otherwise, I plan to go the same route I took for L1 and L2 (indicated above). Good luck!
As someone who flew through L1 & L2 (passed both within 6 months of each other) but failed L3 twice- you may want to rethink your plan. Level 3 is different for many reasons, not the least of which is the constructed response questions that require a different approach than MCs. When I finally realized I needed to change my approach with L3, I passed.
I used Deep3- his notes are amazing and his feedback (especially on the constructed response) is second to none. He answers every email, explains anything you ask about, and over time he really gets to know you and all your ‘issues’. His notes are so good, you don’t need to read the CFA material (its not an efficient use of study time).